How will the rest of the country be affected by New York going under?

[Anonymous]

New York is in major economic decline. Bankrupt, and the National Guard is trying to stop the violence. New York is still an financial epicenter from the old days. How will the rest of US be affected by this situation?

[Lliam]

Turn NYC into a maximum security prison.

https://www.youtube.com/embed/10OoccK7dIw

[handsomelad70]

NYC is three-quarters of the way to being a maximum security prison.(Lots of folk on here seem to LOVE Fascism. No wonder Trump will win in November.)

[handsomelad70]

Slow Joe and Trash Trump. Great choice of leaders for the third-most populous and FAR WEALTHIEST country on Earth.

[genericname85]

it won't. sucks for new yorkers. tho they'll find a new place that is not in crippling debt and in a horrible real estate bubble.

[Asker]

It has the biggest stock exchange in the world, and the state is heading into serious bankruptcy. How will the rest of the US not by messed up by that?

[genericname85]

dude stock exchanges aren't bound to a place on the planet anymore. we live in the digital future. new york doesn't matter and their current downfall could not show any better tha this is true.

i would say the us budget magically missing 21 trillion dollars. that's like 8 times the total net worth of new york. so while this probably is gonna be a problem for america in some capacity, america has far worse issues.

[Asker]

Probably some truth to that but it will still have problems.

[genericname85]

I don't know if some hillbilly in the back countries will even take note xD

[Anonymous]

I asked the same question, and the geniuses deleted it. The site is dead and buried.

[Paris13]

Bigger Cities Are and may Get Worse. Thank Slow Joe for The Illegal problem. xxoo

[handsomelad70]

Whatever, pardner.

[Paris13]

@handsomelad70 lol Partner. xxoo

[Paris13]

Thanks To Gag. xxoo

[handsomelad70]

New York, like it or not, is America's financial hub. Its possible bankruptcy would at the very least, shudder the U. S.' ( and likely the world's) economy.

[Asker]

Yeah it’s gonna happen, and cause a major recession.

[handsomelad70]

And then perhaps U. S. Civil War Two.

[BoopBoopBeep]

NYC's governement could fully default on it's debt and it wouldn't change their designation as a financial epicenter soley because that's where the NYSE is located, and the fastest trading connections will always be in NYC. The whole city could burn but if the fire brigade is protecting the intersection of Wall and Broad all is good. Truthfully, even if that block burned it would be largely symbolic. Actual trades are routed through data centers such as NY4 in Secaucus, N. J, "The Floor" isn't where the overwhelming majority of trades clear (or even process). If the exchange completely failed due to fire/flood/rioting, seemlessly at that point, the servers will "route" the order to the exchange (s) or ECN (s) that they prefer, depending on the circumstances of the order. If one of the exchanges or ECNs is halted, the brokers simply remove that exchange from their router and the order will be directed as if that exchange didn't exist. This was all done to prevent terrorist destruction of the economy long ago.

Would there be a trading halt? Absolutely, because there are circuit breaker measures in place to prevent flash crashes, but those happen regularly on individual securities (I had one earlier in the week). There are individual investors who would panic if wall street burned, smart money woulnd't even care, other than the effect of panic selling by the masses. I personally would be loading up on 45, 90 and 180 day spx calls, but that's just me.

[Anonymous]

I hate New York and New Yorkers. Frankly I hope they end up resorting to cannibalism.

[slatyb]

New York isn't going under.